-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PiX7EJKhuq9bNcyDuuuYPyHYsbLD4ic4W3Tjs6Sd6qnWMi+FW+ScE4boh8F6O8Qh E3B+NfV6ihqkChLSU+oRXg== 0000914233-97-000002.txt : 19970110 0000914233-97-000002.hdr.sgml : 19970110 ACCESSION NUMBER: 0000914233-97-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19970107 ITEM INFORMATION: Other events FILED AS OF DATE: 19970109 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: LA TEKO RESOURCES LTD CENTRAL INDEX KEY: 0000357281 STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040] IRS NUMBER: 870483319 STATE OF INCORPORATION: A1 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-10104 FILM NUMBER: 97502859 BUSINESS ADDRESS: STREET 1: 180 EAST 2100 SOUTH #204 CITY: SALT LAKE CITY STATE: UT ZIP: 84115 BUSINESS PHONE: 8014661402 MAIL ADDRESS: STREET 1: 180 EAST 2100 SOUTH STREET 2: STE 204 CITY: SALT LAKE CITY STATE: UT ZIP: 84115 8-K 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT UNDER TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (date of earliest event reported): JANUARY 7, 1997 Commission File Number: 0-10104 LA TEKO RESOURCES LTD. (Exact Name of Registrant as Specified in its Charter) BRITISH COLUMBIA 87-0483319 (State or other jurisdiction of (IRS Employer incorporation or organization) Identification No.) 180 EAST 2100 SOUTH, SUITE 204 SALT LAKE CITY, UTAH 84115 (Address of Principal Executive Offices) (Zip Code) Registrant's Telephone Number, including Area Code: (801) 484-8856 NOT APPLICABLE (Former name, former address, and formal fiscal year, if changed since last report) ITEM 5: OTHER EVENTS La Teko Resources Ltd. (the "Company") has received from Newmont Exploration, Ltd. ("Newmont") the $2.5 million payment to the Company's subsidiary, La Teko Resources, Inc., due December 31, 1996, pursuant to the True North Joint Venture. The True North property is located just off the Steese Highway, 16 miles north of Fairbanks, Alaska, and seven miles northwest of the Fort Knox mine of Cyprus AMAX, in the Fairbanks Mining District, Alaska. This payment has completed Newmont's $6 million cash obligation to the Company as part of a $27 million total commitment for the acquisition of a 65% interest. Newmont has spent approximately $5.8 million exploring the property and has budgeted approximately $2.1 million for 1997. Gold occurs on the True North property in near surface, flat lying zones within the Chatanika Terrane felsic and graphitic schists. Most exploration to date has concentrated on five discrete zones, Hindenburg, Central, Shepard, Zeppelin and Chomco, although ongoing drilling has shown that these zones may be interconnected. Gold occurs as fine disseminations with minor amounts of pyrite and arsenopyrite. Most of the mineralization delineated to date occurs above the water table and is oxidized. The extent of sulphide mineralization at depth is relatively untested. The oxide zones are favorably oriented for mining by open pit methods. Preliminary metallurgical tests have indicated good leaching characteristics for the oxidized mineralization. Newmont's 1996 drill program continued to expand the known gold zones, with three drill rigs operating until December 19. The latest drilling has yielded encouraging results, including 110 feet grading 0.242 oz Au/ton in the Hindenburg Zone (hole TN-522), representing deeper mineralization in this zone than had previously been intersected. In addition, two significant holes were returned in a newly emerging zone, including TN-539, which encountered 55 feet grading 0.123 oz Au/ton and an additional 20 feet grading 0.121 oz Au/ton and hole TN-541, which intersected 65 feet grading 0.178 oz Au/ton. Complete results of drilling reported in October and November are included in the appended table. Because of the wide-spaced nature of the drilling to date, it is premature to attempt an ore reserve calculation for True North. Newmont's 1997 program will include auger soil sampling, step-out drilling to expand known mineralized zones, and exploration drilling to test for new zones. The Company has three other properties within this active gold mining district. The Company will examine the feasibility of putting its Ryan Lode property, with a previously announced proven and probable reserve of 822,000 ounces of gold, into production. The Juniper property, 100% owned, and the adjacent Twin Buttes property, under option from the University of Alaska, jointly comprise 28,770 acres along the same structural trend as True North, 15 miles to the northeast. These are early stage exploration projects with sampling, trenching, and drilling planned for the 1997 field season. LA TEKO RESOURCES LTD. TRUE NORTH PROJECT SIGNIFICANT* OCTOBER AND NOVEMBER DRILL RESULTS GRADE HOLE INTERVAL WIDTH OZ. AU/TON AREA 387C 20-35 15 0.015 Shepard 97-107 10 0.023 388C 110-130 19 0.029 Shepard 389C 31-42 11 0.078 Shepard 390C 244-258 14 0.252 Shepard 286-302 15.5 0.058 393C 10-20 10 0.031 Central 267-277 10 0.026 422.5-474 51.5 0.084 394C 0-64 64 0.033 Hindenburg 77-114 36.5 0.074 133-189 56 0.112 397C 79-115 35.5 0.053 Hindenburg 454R 65-80 15 0.052 Shepard 459R 5-15 10 0.023 Hindenburg 105-115 10 0.166 463R 65-100 35 0.028 East 464R 35-80 45 0.056 463 Redrill 465R 10-95 85 0.075 East 469R 5-70 65 0.150 Hindenburg 471R 0-75 75 0.111 Hindenburg 105-115 10 0.072 215-285 70 0.134 472R 0-45 45 0.097 Hindenburg 80-95 15 0.027 200-230 30 0.125 473R 20-40 20 0.034 Hindenburg 50-70 20 0.073 474R 0-35 35 0.035 Hindenburg 180-190 10 0.027 475R 0-30 30 0.040 Hindenburg 60-75 15 0.028 110-145 35 0.016 476R 110-145 35 0.334 Zeppelin 479R 5-15 10 0.051 Zeppelin 480R 55-65 10 0.066 Zeppelin 95-105 10 0.058 481R 170-180 10 0.060 Zeppelin 482R 75-95 20 0.230 Zeppelin 395C 277-307 30 0.106 Shepard 399C 102-128 26 0.069 Hindenburg 137-163 26 0.047 493R 25-65 40 0.029 New Zone 75-85 10 0.019 496R 85-95 10 0.027 Soo 498R 260-300 40 0.03 Soo 500R 55-70 15 0.06 New Zone 512R 25-55 30 0.067 Zeppelin 513R 215-225 10 0.028 Soo 240-260 20 0.020 514R 150-200 50 0.184 Zeppelin 515R 145-165 20 0.026 Soo 516R 5-30 25 0.048 Zeppelin 40-75 35 0.015 517R 25-55 30 0.084 Zeppelin 522R 45-95 50 0.059 Hindenburg 200-230 30 0.035 245-355 110 0.242 523R 35-45 10 0.027 Soo 524R 25-45 20 0.026 Hindenburg 115-175 60 0.025 527R 15-25 10 0.017 Central 90-120 30 0.033 529R 135-155 20 0.045 Central 531R 140-160 20 0.017 Central 330-365 35 0.088 532R 185-205 20 0.022 New Zone 215-225 10 0.034 East 537R 100-110 10 0.06 East 539R 40-95 55 0.123 New Zone 140-160 20 0.121 190-205 15 0.014 541R 165-230 65 0.178 New Zone 255-270 15 0.019 C = Diamond drill core hole R = Reverse circulation drill hole * = Only intervals greater than 10ft. @ 0.01 oz. Au/ton reported SIGNATURES Pursuant to the requirements of section 13 or 15(d) of the Securities Exchange of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. LA TEKO RESOURCES LTD. Dated: January 8, 1995 By /s/Gerald G. Carlson, President -----END PRIVACY-ENHANCED MESSAGE-----